EPIC RESEARCH NCDEX COTTON UPDATE OF 27 JUNE 2017

Cotton trading range for the day is 19373-19713.Cotton prices dropped on report on diminishing physical demand on anticipation of good production in the next season as sowing progress is good. As per latest data from Agricultural Ministry, cotton is planted in 16.7 lakh hectares (l ha) till last week, higher by 36.1%.India is expected to produce 6.09 million tonnes of cotton in 2017-18 which is 5.7% higher than the cotton produced last year in 2016-17.Cotton prices in spot market gained by 70.00 rupees and settled at 20210.00 rupees.

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